China Financial Futures Exchange released the 10-year treasury bond futures contract and related detailed rules on Friday, specifying the target and delivery period. The announcement shows that the target of the contract is a nominal long-term national debt with a face value of 6.5438+0 million yuan and a coupon rate of 3%; Book-entry interest-bearing government bonds with a remaining maturity of 6.5- 10.25 years on the first day of the maturity month. The maximum fluctuation of daily price is limited to 2% of the settlement price of the previous trading day. The minimum trading margin is 2% of the contract value. Treasury future refers to the derivative trading method of treasury bonds, which determines the buying and selling price in advance through organized trading places and delivers currency and bonds at a specific time in the future. Treasury bond futures is a kind of financial futures and an advanced financial derivative. It came into being to meet the need of avoiding interest rate risk under the background of unstable financial market in the United States in the 1970s. Treasury bond futures are one of the most active financial futures in the world. On September 6, 20 13, treasury bonds futures were officially listed and traded on China Financial Futures Exchange.